Central bank directs BFIs to operate with limited employees


Nepal Rastra Bank today directed banks and financial institutions to deploy staff at its branches on a turn-wise basis, keeping in view the rising number of coronavirus cases in Kathmandu valley.

Issuing a notice today, the central bank asked BFIs to divide their staff into groups as per their necessity and make them attend office on a turn-wise basis.

“As the number of COVID-19 cases are rising and there is a risk of the virus spreading at the community level, BFIs should ensure that their services are not interrupted while ample measures to prevent the spread of the virus are adopted,” said Gunakar Bhatta, spokesperson for NRB.

The central bank also directed BFIs to offer work-from-home facility to their workers as the lockdown was still in place in different parts of the country while local governments had been imposing curfew in regions where the coronavirus pandemic was spreading.

In the case of provincial and local level offices, the central bank has directed BFIs to fully comply with decisions of both local and provincial governments and operate offices with minimum manpower and ensure basic banking services.

For the BFI branches that have not been able to resume operations due to the lockdown and other unfavourable circumstances, NRB has directed them to resume services by coordinating with the concerned local and provincial governments.

NRB has also asked BFIs to consider the possibility of not operating all their branches daily.

It has also directed BFIs to prepare a business continuity plan amidst the current crisis and submit it to the central bank.

A version of this article appears in e-paper on August 10, 2020, of The Himalayan Times.